This article discusses the prices of various localities of Bangalore.
The real estate sector has grown exponentially in Bangalore over the past few years. Infrastructural development in Bangalore has helped property sector thrive. Rates of properties in Bangalore have been increasing. However, this has not impacted the demand for real estate in Bangalore.
Localities with high-priced properties in Bangalore
Although most locality in Bangalore fall under the mid-range segment in terms of prices, there are a number of places where the price of properties is considerably high. The most expensive area for purchasing a house in Bangalore is the Cunningham Road area with the rate ranging from 15,000 INR to 17,450 INR per square foot. The residential properties in this area are mostly luxury apartments which are available for both sale and rent. Even the rent payable for flats in this area is extremely high ranging from around 30,600 INR to 33,150 INR for 2 bedroom flats and 57,200 INR to 85,800 INR for 3 bedroom ones.
Another high priced residential locality in Bangalore is Malleshwaram with property prices ranging between 11,250 INR and 12,500 INR per square foot. The cost of renting a flat in Malleshwaram can be anywhere between 22,800 INR and 32,400 INR for 2 bedroom apartments and 37,800 INR to 46,800 INR for 3 bedroom apartments.
Basavangudi, located in the southern part of the city, is another expensive neighborhood which sky high real estate rates. Here the price range is between 9,000 INR and 10,950 INR per square foot for buying a house whereas the rent for a 2 bedroom apartment is 20,400 INR to 22,800 INR and that for a 3 bedroom one is between 26,000 INR and 30,875 INR. Some more highly-priced areas in Bangalore are
Localities with mid-range property rates in Bangalore
The mid-range segment is the most popular one in the city of Bangalore in terms of property prices. There are a number of areas in Bangalore that fall under this category. A common feature of several of these areas is their proximity to the major IT hubs of the city. The prices of properties in the mid-range segment of Bangalore may vary anywhere between 3,400 INR to 6,400 INR per square foot.
One of the popular mid-range areas in the city of Bangalore is Sarjapur Road where the cost of properties per square foot ranges between 3,950 INR and 5,150 INR. Another highly popular area for mid-range properties in Bangalore is the Whitefield area with property prices ranging from 3,950 INR to 5,100 INR per square foot.
Some of the other popular areas with mid-range properties in Bangalore are JP Nagar, HSR Layout, Hosur Road, Yeshwanthpur, Hebbal and the Old Airport Road area.
Mid-range properties have made the biggest contribution to the infrastructure of Bangalore over the past few years.
Localities in Bangalore still not impacted by price hike
Even though the prices of properties in Bangalore have shown an increasing trend over the past few years, there are still a number of areas where the property rates are comparatively low. Most of these areas do not fall under the greater part of the city but are mostly suburbs that are being developed into hubs for residential housing.
One such locality is the Chandapura, a suburb of Bangalore where the property rates per square foot are between 2,600 INR and 2,750 INR. Another well-known area in terms of low property prices in Bangalore is Electronic City. Here the property prices vary from 2,700 INR to 3,300 INR per square foot.
In this segment, there are also some areas that were villages previously but are in the process of becoming residential hubs. Two such areas are Abbigere and Begur Road where the property prices witnessed and unprecedented rise; however, they can still be considered as low-priced areas. Other areas with low property prices in Bangalore are KR Puram, LB Shastri Nagar, NRI Layout, Kadugodi, Hoskote and Babusapalaya.
Property rates in Bangalore are bound to increase further with the increase in demand for real estate. Also, setting up of a metro rail service in the city will contribute to increase in property prices in several low priced areas as well due to enhanced connectivity. This is surely an exciting phase for the real estate industry in Bangalore.
Author Bio: The author works for a banking MNC in Kolkata. He is passionate about writing and sports. He is fulfilling one of his passions by working as a freelance writer and wishes to do something that will connect both.